A Houston megachurch pastor with ties to former Presidents Barack Obama and George W. Bush is planning to turn himself in to authorities after he was indicted for orchestrating a $3.5million fraud, his lawyer has said. The pastor, Kirbyjon Caldwell, and Gregory Alan Smith, a Louisiana financial planner, were brought up on federal charges on Thursday. According to the indictment, Caldwell and Smith used their ‘influence and status’ to lure dozens of ‘vulnerable and elderly’ people to invest in worthless Republic of China bonds.
The bonds were issued after World War II, but became worthless when the Communists took over the country in 1949, kicking out the old government who issued the bonds. Their only value today is as collectibles.
Caldwell’s attorney said his client plans to surrender to authorities, he told ABC News.
‘The surrender date will be arranged on Monday,’ said attorney Dan Cogdell.
Caldwell is likely to appear before a magistrate judge at the US Attorney’s Office in:
WILL THE BLACK PASTOR GET OFF LIKE THE WHITE MEN WHO WERE HIS FRIENDS?
POWER AND POSITION DO MAKE A DIFFERENCE HISTORY PROVES…
Savings and Loan Sacandal Neil Bush and Silverado More Reporting 4 18 1991 CBS.
NO JAIL TIME – MONEY SPENT!
Jeb Bush and the Bush Crime Family – 3 Generations, an American Dynasty
I still remember the 1980’s and hearing the Bush name in relation to the Savings and Loans collapse and scandal. At that time some involved went to prison, not the Bush once daddy Bush got involved. Good read – Inside Job: The Looting of America’s Savings and Loans (1989) by the journalists Stephen Pizzo Jeb Bush, George Bush Sr., and his son Neil Bush have all been implicated in the Savings and Loan Scandal, which cost American tax payers over $1.4 TRILLION dollars Jeb Bush defaulted on a $4.56 million loan from Broward Federal Savings in Sunrise, Florida.
After federal regulators closed the S&L, the office building that Jeb used the $4.56 million to finance was reappraised by the regulators at $500,000, which Bush and his partners paid. The taxpayers had to pay back the remaining 4 million plus dollars. Neil received a $100,000 “loan” from Ken Good, of Good International, with no obligation to pay any of the money back. Good was a large shareholder in JNB Explorations, Neil Bush’s oil-exploration company.